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2017-06-20 08:55:01

08:55

06/20/17

06/20

08:55

06/20/17

08:55

Energy Action: Crude prices have turned sharply lower

Energy Action: Crude prices have turned sharply lower, with the WTI benchmark down 2.5% presently, at $43.33, earlier logging a seven-month low at $43.20. Reports that Libya has raised production by 50k barrels per day, and Nigeria by 62k barrels, have sparked selling, fanning the global supply glut narrative. Crude prices are now down by over 16.5% from the highs seen in late May.